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Market Daily Report: Bursa Malaysia Closes Higher On BNM’s OPR Decision, Wall Street Gains

KUALA LUMPUR, Nov 5 (Bernama) -- Bursa Malaysia closed higher, buoyed by Bank Negara Malaysia’s (BNM) decision to maintain the Overnight Policy Rate (OPR) at 2.75 per cent, alongside positive cues from Wall Street. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 19.30 points, or 1.19 per cent, to 1,635.86 from Wednesday’s close of 1,616.56. The benchmark index opened 6.72 points higher at 1,623.28, and fluctuated between an intraday high of 1,642.44 and a low of 1,622.62 during the trading session. However, market breadth was negative, with losers outnumbering gainers 723 to 497, while 466 counters were unchanged, 1,075 untraded and 10 suspended. Turnover rose to 3.74 billion units valued at RM3.61 billion compared with yesterday’s 2.81 billion units valued at RM2.57 billion.

Key Corporate Updates from Malaysia

  Notable Filings and Shareholder Changes Dataprep Holdings Bhd : Shamshuri Abdul Majid, the largest shareholder, acquired 38.18 million shares (5.17% stake) on August 13, doubling his ownership to 10.11%. This acquisition made him the largest shareholder, surpassing Tan Sri Ikmal Opat Abdullah, who is also the founder of Widad Group Bhd. Shamshuri, managing director of Mizou Holdings Sdn Bhd, first became a substantial shareholder on July 10 with a 5.16% stake. His investment in Dataprep is a private one, separate from Mizou Holdings. Dataprep’s share price closed at 22 sen per share on the day of the acquisition and later settled at 21 sen, valuing the company at RM158.65 million. Country Heights Holdings Bhd : Lim Chow Sen acquired 7.25 million shares (2.42% stake) on August 13, increasing his stake to 12.59%. The largest shareholder remains Tan Sri Lee Kim Tiong, with a combined direct and indirect stake of 50.19%. Country Heights plans to seek arbitration in Singapore regardin...

Seng Fong Shares Surge to Two-Week High Following Record FY2024 Profit

  Shares of Seng Fong Holdings Bhd (KL) soared to their highest level in two weeks on Wednesday, after the rubber processing company reported a record annual profit for FY2024. Key Highlights: Stock Surge: Seng Fong’s shares climbed as much as 5% or six sen to RM1.25, marking the stock’s highest level since July 30, 2024. By 9:30 am, the shares were trading at RM1.22, giving the company a market capitalization of RM880 million. Trading volume spiked, with over 2.48 million shares exchanged, surpassing the 200-day moving average. Record Profit: Seng Fong reported a net profit of RM57.3 million for FY2024, more than doubling the RM22.6 million profit from FY2023. This marks a new high for the company since its listing in 2022. The company attributed this significant profit increase to the integration of a biomass system, which reduced diesel costs, and the extension of production hours. Earnings Growth Drivers: According to Apex Securities, the sole research house covering the sto...